CTS (NYSE:CTS) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of CTS (NYSE:CTS) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

CTS Trading Down 1.1 %

Shares of CTS stock opened at $46.51 on Monday. The stock has a market cap of $1.43 billion, a P/E ratio of 27.36 and a beta of 0.58. The stock’s 50 day simple moving average is $48.61 and its 200-day simple moving average is $48.54. CTS has a 1-year low of $35.50 and a 1-year high of $55.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.85.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $130.16 million for the quarter, compared to analysts’ expectations of $133.33 million. CTS had a return on equity of 11.98% and a net margin of 10.70%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. Analysts predict that CTS will post 2.15 EPS for the current fiscal year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, September 27th. CTS’s dividend payout ratio is presently 9.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Pitcairn Co. lifted its holdings in CTS by 3.2% in the first quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock valued at $332,000 after acquiring an additional 222 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in CTS by 2.2% in the first quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock valued at $532,000 after acquiring an additional 249 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in CTS by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock valued at $887,000 after acquiring an additional 285 shares during the last quarter. AQR Capital Management LLC lifted its holdings in CTS by 5.8% in the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock valued at $285,000 after acquiring an additional 308 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in CTS by 25.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after purchasing an additional 336 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

CTS Company Profile

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.